Fraud Specialist 1

Farmers and Merchants Bank of Long Beach•Lakewood, CA

11d•$21 - $31

About The Position

The Fraud Specialist 1 works within the Second Line of Defense (2LOD) and supports the Bank’s Enterprise Risk Management Framework. Reporting directly to the Enterprise Fraud Manager and Fraud Risk Team Lead, the position performs fraud monitoring and analysis of daily internal checks, deposits, ACH transactions, Q2 Sentinel, Debit Card Regulation E claims, and Zelle claims. The specialist reviews suspicious activity promptly, verifies transactions with branches and customers, identifies potential losses, and works to mitigate risk while meeting established department standards. The role requires customer service, fraud analysis, problem-solving, communication, confidence, and awareness of current fraud trends. It includes processing and tracking potential fraud involving checks, deposits, ACH, external transfers, Zelle, and debit cards; handling claims and investigations in accordance with Regulation E; maintaining logs and records; and meeting service-level agreements. The position requires experience in overall bank operations and at least one year of experience in a banking security environment and/or a credit or debit card processing environment. An associate’s degree is preferred. Work is primarily performed in an office environment. Occasional holiday and/or Saturday hours may be required based on business needs. The position is non-exempt and paid hourly.

Requirements

At least 1 year of experience in a banking security environment and/or 1 year of experience in a credit card or debit card processing environment.
Experience in overall bank operations.
Knowledge of Regulation CC, Regulation DD, Regulation D, Regulation E (EFT) overview and error resolution, and Mastercard rules and regulations.
Clear understanding of spoken and written English.
Basic mathematical skills and intermediate typing skills.
Strong customer service and listening skills.
Time-management skills.
Excellent interpersonal and communication skills.
Critical-thinking, analytical, and investigative skills.
Ability to actively listen and learn, communicate respectfully with supervisors and coworkers, and deal effectively with unpleasant, angry, or discourteous people.
Ability and willingness to contribute to a team environment.
Availability to work occasional holiday and/or Saturday hours based on business needs.
Ability to perform repetitive office and computer-based movements; sit and/or stand for extended periods; lift, carry, or move objects up to 25 pounds; and use hands and fingers to operate office equipment, with or without reasonable accommodation.

Nice To Haves

Associate’s degree.

Responsibilities

Review and verify potential check, deposit, and ACH fraud identified by the Bank’s Fraud Detection Systems.
Follow established policies and procedures to analyze activity and mitigate losses.
Notify Branch Operations about questionable items and obtain approval.
Track and retain exception-item resolutions and return data; follow operational procedures for timely returns.
Verify and resolve suspected insider-account fraud items through the Bank’s Fraud Detection System.
Verify potential ACH and external-transfer fraud identified by the Bank’s Fraud Detection System.
Track and retain exception-item resolutions and cancellations for reference and reporting.
Open Zelle fraud claims as soon as fraud is confirmed and review fraud/dispute activity for chargeback rights and recovery.
Process fraud and dispute claims promptly to ensure compliance with Regulation E, follow investigative leads, and maintain a Regulation E tracking log.
Provide provisional or final credit for debit-card fraud/dispute claims reported to the Bank’s processing vendor within required timeframes.
Keep fraud logs current for management and accounting purposes.
Maintain Enterprise Fraud Department general ledger accounts and clear items according to Bank policy, within 90 days or earlier.
Work Pin Debit fraud/dispute claims through STAR and follow up on claims, including the chargeback cycle and photo requests.
Meet service-level agreements for accurately processing critical duties and timely submission of potential fraud exceptions, each with a stated target above 95%.
Comply with applicable banking laws, regulations, and internal policies, including BSA, AML, OFAC, CIP, financial elder abuse reporting, harassment prevention, information security, and privacy requirements.
Work occasional holiday and/or Saturday hours based on business needs.